VeChain (VET) teams up with RMIT’s Blockchain Innovation Hub

By: Ali Raza
Ali Raza
Ali plays a key role in the cryptocurrency news team. He loves travelling during his spare time and enjoys playing cricket,… read more.
on Dec 22, 2020
  • VeChain's VeResearch joined forces with RMIT's Blockchain Innovation Hub.
  • The two aim to work together on researching various issues such as governance and try finding a solution.
  • They will also explore the technology in a more social context to later use that research for adoption.

VeChain’s VeResearch has been one of the most important and innovative research programs for the last several years. It was responsible for countless breakthroughs in blockchain-related tech development. The program has cooperated and co-developed all kinds of solutions with other global research bodies — for improving VeChainThor, as well as the entirety of the blockchain industry.

Now, the program was joined by the Royal Melbourne Institute of Technology’s (RMIT) Blockchain Innovation Hub.

VeResearch and Blockchain Innovative Hub’s goals

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The two aim to address a number of various issues that are pressing blockchain technology today. RMIT’s Blockchain Innovation Hub is the first research center focusing on social science regarding the blockchain in the world. It unites the economists, social science researchers, and others for the common goal of changing blockchain applications across various fields.

The group plans to improve the current knowledge regarding blockchain governance models, help speed up the standardization of the blockchain governance consensus, and more.

Through collaboration, the two hope to create a framework for evaluation and comparisons of the governance systems of public chains. The team also aims to create a theoretical understanding of the dimensions of decentralization for public chains.

Pushing blockchain adoption through research

The next thing that the partnering researchers will do is design governance models, which will better incentivize different stakeholders to participate in the governance process. This kind of research will be very helpful for bringing mass adoption of blockchain — one of the long-time goals of crypto and blockchain alike.

The joint research team plans to investigate various governance models, and particularly those that are suitable for enterprises. Of course, with respect to the future regulatory environment.

As for VeChain (VET) itself, the collaboration will further confirm its role as a “harbinger of public blockchain standards,” as it called itself in an announcement of the partnership.

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